The specifics of Russian business is such that the domestic currency, the ruble, has limited circulation in the world. This means that they cannot pay for goods or services provided by foreign partners. Operations on such transactions are carried out with the help of foreign money, most often - US dollars. However, you cannot use a regular checking account for this - the legislation does not allow it. Then the organization or individual entrepreneur opens a currency account.
The bank that provides such services must comply with legal requirements. If all regulatory requirements are met, a separate license is issued to the financial institution. After that, you can safely carry out operations with foreign money. However, all the same, the majority of accounting entries are made in rubles, simply the money received in or withdrawn from a foreign currency account is converted into Russian currency at the Central Bank rate.
It is noteworthy that bank customers are not limited to one denomination of foreign money, for example, US dollars. It is allowed to open sub-accounts for each type of currency used in the activity. In this case, the organization or entrepreneur will receive bank statements for each type.
As you know, opening bank accounts does not present any particular difficulties. The client will not have big problems with the design of relations in this specific area. The institution should provide the usual set of documents:
- a statement indicating the details of the future client;
- a copy of the charter or the memorandum of association (necessarily certified);
- copy of documents on state registration;
- a card with signatures (also usually certified by a notary).
If the foreign account is opened by a foreign person or joint venture, they must provide evidence of their belonging to enterprises with foreign investment. In this capacity stands the certificate of inclusion in the relevant registry.
After a small check, a banking service agreement is concluded with the applicant. After that, two accounts are opened for the organization or entrepreneur : transit and current. The first - transit - is considered a relic of the past. Previously, he served the state for the forced purchase of foreign currency. Only after this, the remaining part and rubles were distributed among their sectors. A current account is used to carry out all major operations.
Account opening is now available abroad. And here, each country sets its own rules, sometimes quite strict. Here, for example, is a summary of how to open an account with a Swiss bank.
There are many banks in this country, and each of them can set its own minimum of funds. But from practice it is known that if there will be less than 10 thousand Swiss francs of money , then it is likely to be refused. And if one succeeds in becoming the owner of such a flattering account, with a small number of operations, after a while a proposal will be received to terminate the contract.
Before opening a foreign currency account, bank managers must meet in person. The correspondence procedure is almost completely excluded. If there is a representative office of the bank in Russia, then it is possible to resolve the issue in it. If not, you will have to make a trip.
Naturally, in advance it will be necessary to request a list of required documents in order to submit them for verification. They are very different from Russian: this may include the size of the business, its characteristics and even the size of the income. The time for a meticulous study will take from two weeks to a month. The procedure can be facilitated only with the help of the recommendation of a very respectable client, but it will not work to speed up.